One of the Main Ways to Organize the Study of Statistics

question 166

Multiple Choice

One of the main ways to organize the study of statistics is to divide it in two branches.These two branches are _______ statistics and _______ statistics.

• A)positive; normative
• B)descriptive; normative
• C)positive; inferential
• D)descriptive; inferential
• E)positive, macro

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Definitions:

Unavoidable Expenses

Expenses that cannot be eliminated and are necessary for a business's operations or living expenses.

Business Segment

A part of a company that can be identified by particular products or services or by geographical areas, generating its own revenue and expenses.

Net Loss

The amount by which a company's expenses exceed its revenues, indicating that the business has spent more than it has earned in a specific period.

Total Cost Method

An accounting method that includes all costs related to the production of goods when calculating inventory cost.